Corporations Act 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.3B - RESTRUCTURING OF A COMPANY  

Division 1 - Preliminary  

SECTION 452A   452A   OBJECT OF THIS PART  


The object of this Part, and Schedule 2 to the extent that it relates to this Part, is to provide for a restructuring process for eligible companies that allows the companies:

(a)  to retain control of the business, property and affairs while developing a plan to restructure with the assistance of a small business restructuring practitioner; and

(b)  to enter into a restructuring plan with creditors.

Note: Schedule 2 contains additional rules about the restructuring process.


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